Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
Democracy Fund Inc
 
Number and street (or P.O. box number if mail is not delivered to street address)1200 17th St NW Ste 300
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Washington, DC20036
A Employer identification number

38-3926408
B Telephone number (see instructions)

(202) 420-7943
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$15,845,796J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 63,363,700
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 78,775 78,775 78,775
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 518,380
b Gross sales price for all assets on line 6a 35,932,080
7 Capital gain net income (from Part IV, line 2)... 35,910,472
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 63,960,855 35,989,247 78,775
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 1,220,697 0 0 1,220,697
14 Other employee salaries and wages...... 10,808,436 0 0 10,808,436
15 Pension plans, employee benefits....... 1,998,795 0 0 1,998,795
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
202,413 0 0 202,413
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
166,406 0 0 166,406
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
3,888,388 0 0 3,888,388
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
1,354,186 0 0 1,346,107
19 Depreciation (attach schedule) and depletion... 103,699 0 0
20 Occupancy.............. 1,753,859 0 0 1,753,859
21 Travel, conferences, and meetings....... 733,726 0 0 733,726
22 Printing and publications.......... 3,700 0 0 3,700
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,634,911 193 193 1,420,420
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 23,869,216 193 193 23,542,947
25 Contributions, gifts, grants paid....... 37,719,319 49,066,416
26 Total expenses and disbursements. Add lines 24 and 25 61,588,535 193 193 72,609,363
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,372,320
b Net investment income (if negative, enter -0-) 35,989,054
c Adjusted net income (if negative, enter -0-)... 78,582
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 18,252,113 9,484,808 9,484,808
2 Savings and temporary cash investments.........      
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 297,131 414,111 414,111
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow1,622,307
Less: accumulated depreciation (attach schedule) right arrow1,157,448 580,759 464,859 464,859
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
6,511,137 		Click to see attachment
List of Attached Documents:
// Content
5,482,018 		Click to see attachment
List of Attached Documents:
// Content
5,482,018
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 25,641,140 15,845,796 15,845,796
Liabilities 17 Accounts payable and accrued expenses.......... 3,439,011 3,770,848
18 Grants payable................. 34,439,011 23,091,914
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
5,998,707 		Click to see attachment
List of Attached Documents:
// Content
4,846,156
23 Total liabilities (add lines 17 through 22)......... 43,876,729 31,708,918
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... -18,235,589 -15,863,122
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... -18,235,589 -15,863,122
30 Total liabilities and net assets/fund balances (see instructions). 25,641,140 15,845,796
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
-18,235,589
2
Enter amount from Part I, line 27a .....................
2
2,372,320
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
147
4
Add lines 1, 2, and 3 ..........................
4
-15,863,122
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
-15,863,122
Form 990-PF (2024)
Form 990-PF (2024)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 800,000 shares of Nu Holdings Ltd D 2020-01-01 2024-07-09
b 140,000 shares of Paypal Holdings D 1996-05-20 2024-03-11
c 140,000 shares of Paypal Holdings D 1996-05-20 2024-03-12
d 140,000 shares of Paypal Holdings D 1996-05-20 2024-03-13
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 10,412,502   21,600 10,390,902
b 8,392,800   3 8,392,797
c 8,404,560   3 8,404,557
d 8,722,218   2 8,722,216
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       10,390,902
b       8,392,797
c       8,404,557
d       8,722,216
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 35,910,472
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 0
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 500,248
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 500,248
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 500,248
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 502,463
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 502,463
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 2,215
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow2,215 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowDC, DE, CA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
Yes
 
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowwww.democracyfund.org
14
The books are in care ofright arrowJulie Hecker Controller Telephone no.right arrow (202) 420-7900

Located atright arrow1200 17th St NW Ste 300WashingtonDC ZIP+4right arrow200363014
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
Yes
 
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
Yes
 
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
Patricia Christen Chairman
2.46 		0 0 0
720 University Ave Ste 110
Los Gatos,CA95032
Joseph Goldman President & CEO
28.00 		520,858 54,508 0
1200 17th St NW Ste 300
Washington,DC20036
Deepa Isac General Counsel & Secretary
36.00 		311,569 38,926 0
1200 17th St NW Ste 300
Washington,DC20036
Robin Thompson Treasurer & Senior Director of Finance
36.00 		240,688 34,147 0
1200 17th St NW Ste 300
Washington,DC20036
Danielle Allen Director
0.25 		20,000 0 0
1200 17th St NW Ste 300
Washington,DC20036
Crystal Hayling Director
0.25 		0 0 0
1200 17th St NW Ste 300
Washington,DC20036
Deepak Bhargava Director
0.25 		0 0 0
1200 17th St NW Ste 300
Washington,DC20036
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
Laura Chambers Chief Operating Offi
36.00 		412,263 46,769 0
1200 17th St NW Ste 300
Washington,DC20036
Sanjiv Rao Managing Program Dir
33.00 		329,058 39,545 0
1200 17th St NW Ste 300
Washington,DC20036
Lara Flint Managing Program Dir
30.00 		319,862 40,011 0
1200 17th St NW Ste 300
Washington,DC20036
Thomas Glaisyer Executive Advisor
32.00 		294,673 38,957 0
1200 17th St NW Ste 300
Washington,DC20036
Kelly Reed Deputy Chief Operati
36.00 		294,072 37,782 0
1200 17th St NW Ste 300
Washington,DC20036
Total number of other employees paid over $50,000...................right arrow 75
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
Third Plateau Social Impact Strategies Consulting 335,000
127 University Ave
Berkeley,CA94710
Incandescent LLC Consulting 321,414
28 W 25th St Floor 9
New York,NY10010
Mission Partners LLC Consulting 296,200
PO Box 1400
Rockville,MD20849
Global Situation Room Inc Consulting 192,000
805 Cameron St
Alexandria,VA22314
Meteorite LLC Consulting 181,264
145 S Fairfax Ave
Los Angeles,CA90036
Total number of others receiving over $50,000 for professional services.............right arrow18
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 Free and Fair ElectionsVoting is one of the most significant ways for Americans in the United States to participate in democracy. To develop a free, fair, and accessible election system, our Elections and Voting program supports groups who are empowering communities and strengthening our election infrastructure. 1,992,808
2 Vibrant and Diverse Public SquareReliable information is getting harder to find, leading to less informed voters and greater threats to democracy. To increase civic participation, the Public Square program invests in organizations and leaders who believe in the power of accurate and accessible information as a force for justice and democracy, and work to ensure communities have access to the information they need, online and offline. 2,730,191
3 Representative and Accountable GovernanceGoverning institutions should provide equal voice and power to all Americans, leaders should be accountable and responsive, and abuses of power should be rare. Achieving this vision requires reforming our institutions so that voters see themselves and their opinions represented in government and its policy decisions. The Governance program seeks to defend against threats that undermine our democracy and works to advance long-term, structural change that shifts power to the people and away from a select few. 1,581,278
4 Just and Inclusive SocietyTo strengthen our democracy in an increasingly diverse country, the Just and Inclusive Society program elevates intersectional movements supporting refugees, migrants, and communities of color. 1,230,295
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
1,017,312
b
Average of monthly cash balances.......................
1b
11,280,165
c
Fair market value of all other assets (see instructions)................
1c
659,928
d
Total (add lines 1a, b, and c).........................
1d
12,957,405
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
12,957,405
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
194,361
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
12,763,044
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
638,152
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
 
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
 
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
 
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
 
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
 
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
 
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
72,609,363
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
72,609,363
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7  
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........  
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$  
a Applied to 2023, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2024 distributable amount.....  
e Remaining amount distributed out of corpus  
5 Excess distributions carryover applied to 2024.    
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		 
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		 
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024....  
Form 990-PF (2024)
Form 990-PF (2024)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
78,582 2,514,617 398,944 10,471 3,002,614
b 85% (0.85) of line 2a ......... 66,795 2,137,424 339,102 8,900 2,552,222
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		72,609,363 71,704,851 65,342,744 57,883,092 267,540,050
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		49,066,416 48,237,410 44,930,118 40,055,610 182,289,554
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		23,542,947 23,467,441 20,412,626 17,827,482 85,250,496
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......         0
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		         0
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		425,435 2,353,045 2,307,072 2,136,813 7,222,365
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		        0
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		        0
(3) Largest amount of support
from an exempt organization		         0
(4) Gross investment income         0
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2024)
Form 990-PF (2024)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

ACCESS

2651 Saulino Court
Dearborn,MI48120 		No PC Program support for the National Network for Arab American Communities. 100,000

AccountableUS

1919 M Street NW Suite 450
Washington,DC20036 		No PC General support 415,000

AccountableUS

1919 M Street NW Suite 450
Washington,DC20036 		No PC Program support to provide security training and technical assistance 75,000

Action Center on Race and the Economy Institute

1901 West Carroll Avenue
Chicago,IL60612 		No PC General support 300,000

Allied Media Projects Inc

4731 Grand River Avenue
Detroit,MI48208 		No PC Program support for Detroit Community Tech Project 450,000

Alternative Newsweekly Foundation

253 Tennessee Avenue NE
Washington,DC20002 		No PC Program support for Conecta Arizona 150,000

Amalgamated Charitable Foundation Inc

1825 K Street NW
Washington,DC20006 		No PC Program support for #HalfMyDAF 50,000

Amalgamated Charitable Foundation Inc

1825 K Street NW
Washington,DC20006 		No PC Program support to help democratic systems adapt to climate shocks 150,000

Amalgamated Charitable Foundation Inc

1825 K Street NW
Washington,DC20006 		No PC Program support for Organizing Resilience 200,000

American Bar Association Fund for Justice and Education

321 North Clark Street
Chicago,IL60654 		No SO 1 Program support for Task Force on American Democracy 100,000

American Journalism Project

6218 Georgia Avenue NW Suite 1-599
Washington,DC20011 		No PC General support 500,000

American Oversight Inc

1030 15th Street NW Suite B255
Washington,DC20005 		No PC General support 275,000

American Oversight Inc

1030 15th Street NW Suite B255
Washington,DC20005 		No PC Program support for a cybersecurity threat assessment 17,000

Arizona Center for Investigative Reporting

PO Box 3665
Phoenix,AZ85030 		No PC General support 75,000

Asian Law Caucus

55 Columbus Avenue
San Francisco,CA94111 		No PC General support 133,400

Aspiration

PO Box 880264
San Francisco,CA94188 		No PC Program support for The Revival Lab 300,000

Association of the Bar of the City of New York Fund Inc

42 West 44th Street
New York,NY10036 		No PC Program support for Lawyers for Reporters 75,000

Asylum Seeker Advocacy Project Inc

228 Park Avenue South 84810
New York City,NY10003 		No PC General Support 125,000

Atlantic Council of the US Inc

1030 15th Street NW 12th Floor
Washington,DC20005 		No PC Program support for the Digital Forensic Research Lab 150,000

Ayni Institute Inc

19 Meridian Street Suite 1
East Boston,MA02128 		No PC General support 250,000

Baltimore Beat Inc

1400 Greenmount Avenue P01
Baltimore,MD21202 		No PC General support 150,000

Bend the Arc A Jewish Partnership for Justice

330 Seventh Avenue 19th Floor
New York,NY10001 		No PC Program support for Funders' Collaborative for Youth Organizing 200,000

Blueprint North Carolina

PO Box 607
Durham,NC27278 		No PC General support 150,000

Bold Impact

15250 Chincoteague Court
Woodbridge,VA22193 		No PC General support 200,000

Borealis Philanthropy

225 South 6th Street Suite 3900
Minneapolis,MN55402 		No PC Program support for the Racial Equity in Journalism Fund 1,020,000

Borealis Philanthropy

225 South 6th Street Suite 3900
Minneapolis,MN55402 		No PC Program support for the Racial Equity in Journalism Fund Fellows 200,000

Boston Critic Inc

875 Massachusetts Avenue Suite 31
Cambridge,MA02139 		No PC Program support for a forum on multi-party democracy 50,000

Campaign For Accountability Inc

660 Pennsylvania Avenue SE Suite
303
Washington,DC20003 		No PC General support 100,000

Center for American Progress

1333 H Street NW Suite 100E
Washington,DC20005 		No PC Program support for the Democracy and Elections Program 250,000

Center for Christianity and Public Life

5730 Cottonworth Avenue Suite 10417
Baltimore,MD21209 		No PC General support 20,000

Center for Civic Design

5443 Tates Bank Road
Cambridge,MD21613 		No PC General support 150,000

Center for Empowered Politics Education Fund

1212 Broadway Suite 700
Oakland,CA94612 		No PC General support 100,000

Center for Media Justice

1300 Clay Street Suite 600
Oakland,CA94612 		No PC General support 500,000

Center for Technology and Civic Life

303 East Wacker Drive Suite 2106
Chicago,IL60601 		No PC General support 200,000

Charlottesville Tomorrow

PO Box 1591
Charlottesville,VA22902 		No PC General support 200,000

Charlottesville Tomorrow

PO Box 1591
Charlottesville,VA22902 		No PC Program support for Charlottesville Inclusive Media Project 50,000

Check My Ads Institute

1802 Vernon Street NW PMB 500
Washington,DC20009 		No PC General support 250,000

Children's Defense Fund

840 First Street NE Suite 300
Washington,DC20002 		No PC General support 250,000

Chinese Progressive Association

1042 Grant Avenue
San Francisco,CA94133 		No PC Program support for Grassroots Asians Rising 150,000

Church World Service Inc

28606 Phillips Street
Elkhart,IN46515 		No PC Program support for leadership development within refugee communities 100,000

Citizens for Responsibility and Ethics in Washington Inc

PO Box 14596
Washington,DC20044 		No PC General support 200,000

City Bureau NFP

3619 South State Street Suite 400
Chicago,IL60609 		No PC General support 165,000

City Bureau NFP

3619 South State Street Suite 400
Chicago,IL60609 		No PC Program support for News Futures 250,000

Code for Science and Society Inc

3439 SE Hawthorne Boulevard 247
Portland,OR97214 		No PC Program support for Center on Race and Digital Justice 100,000

Common Cause Education Fund

805 15th Street NW Suite 800
Washington,DC20005 		No PC Program support for Media and Democracy Program 25,000

Common Cause Education Fund

805 15th Street NW Suite 800
Washington,DC20005 		No PC General support 225,000

Common Counsel Foundation

1624 Franklin Street 1022
Oakland,CA94621 		No PC Program support for Rising Majority Committee 150,000

Community Partners

1000 North Alameda Street Suite 240
Los Angeles,CA90012 		No PC Program support for Open News 220,000

Constitutional Accountability Center

1200 18th Street NW Suite 501
Washington,DC20036 		No PC General support 200,000

Cornell University

377 Pine Tree Road
Ithaca,NY14850 		No PC Program support for the Data and Democracy Lab 150,000

Craig Newmark Graduate School of Journalism CUNY Foundation Inc

219 West 40th Street
New York,NY10018 		No PC Program support for Center for Community Media 250,000

Democracy Forward Foundation

1445 New York Avenue NW 6th Floor
Washington,DC20005 		No PC General support 700,000

Democracy North Carolina

3000 Aerial Center Parkway Suite
160
Morrisville,NC27560 		No PC General support 100,000

Democratizing Philanthropy Project

344 20th Street Suite 260F
Oakland,CA94612 		No PC Program support to help underfunded nonprofits build small dollar revenue streams 200,000

Documented Ltd

85 Broad Street 12th Floor
New York,NY10004 		No PC General support 150,000

Donors Of Color Network Inc

9450 SW Gemini Drive PMB 57981
Beaverton,OR97007 		No PC General support 50,000

El-Hibri Foundation

1420 16th Street NW
Washington,DC20036 		No PC Program support for field leadership training and capacity building 200,000

FairVote

8484 Georgia Avenue Suite 240
Silver Spring,MD20910 		No PC General support 200,000

Faith in Action Network

1616 P Street NW Suite 300
Washington,DC20036 		No PC General support 250,000

Faith in Public Life Inc

1990 M Street NW 740
Washington,DC20036 		No PC General support 150,000

Faith Matters Network Collaborative

100 Powell Place 1580
Nashville,TN37204 		No PC General support 10,000

Fight for the Future Education Fund

68 Harrison Avenue 605 PMB 95005
Boston,MA02111 		No PC General support 150,000

Foundation for City College

160 Convent Avenue Room 154
New York,NY10031 		No PC Program support for the Leadership Center for Democracy and Social Justice 100,000

Fractured Atlas

228 Park Avenue South 56651
New York,NY10003 		No PC Program support for Black River Life 150,000

Free Press

1025 Connecticut Avenue NW Suite
1110
Washington,DC20036 		No PC General support 700,000

Free Press

1025 Connecticut Avenue NW Suite
1110
Washington,DC20036 		No PC Program support for Media 2070 350,000

Fund for Constitutional Government

1100 13th Street NW Suite 800
Washington,DC20005 		No PC Program support for Keseb 300,000

George Washington University

1922 F Street NW 4th Floor
Washington,DC20052 		No PC Program support for the Multiracial Democracy Project 250,000

Georgetown University

3700 O Street NW
Washington,DC20057 		No PC Program support for Initiative on Catholic Social Thought and Public Life 20,000

Georgetown University

3700 O Street NW
Washington,DC20057 		No PC Program support for Institute for Constitutional Advocacy and Protection 200,000

Global Impact

2300 N Street NW Suite 501A
Washington,DC20037 		No PC Program support for The 65 Project 225,000

Global Impact

2300 N Street NW Suite 501A
Washington,DC20037 		No PC Program support for GovAct 500,000

Global Impact

2300 N Street NW Suite 501A
Washington,DC20037 		No PC Program support for Legal Accountability Center 500,000

Global Project Against Hate and Extremism Inc

3066 Zelda Road 400
Montgomery,AL36106 		No PC General support 100,000

Government Accountability Project Inc

1612 K Street NW Suite 1100
Washington,DC20006 		No PC General support 200,000

Grassroots Power Project

1400 Shattuck Avenue STE 12 148
Berkeley,CA94709 		No PC General support 250,000

Hope CommUnity Center Inc

1016 North Park Avenue
Apopka,FL32712 		No PC General support 250,000

Hopewell Fund

1828 L Street NW Suite 300D
Washington,DC20036 		No PC Program Support for Free Election Fund 750,000

Hopewell Fund

1828 L Street NW Suite 300D
Washington,DC20036 		No PC Program support for Over Zero 100,000

Illinois Coalition for Immigrant and Refugee Rights

228 South Wabash Avenue Suite 800
Chicago,IL60604 		No PC General support 100,000

Illinois Coalition for Immigrant and Refugee Rights

228 South Wabash Avenue Suite 800
Chicago,IL60604 		No PC Program support for Fair Immigration Reform Movement 100,000

Independent Arts & Media

2830 20th Street Suite 201
San Francisco,CA94110 		No PC Program support for El Timpano 150,000

Inner-City Muslim Action Network

2744 West 63rd Street
Chicago,IL60629 		No PC General support 100,000

Institute for Local Self Reliance Inc

2720 East 22nd Street
Minneapolis,MN55406 		No PC Program support for Tribal Broadband Bootcamp 175,000

Institute for Local Self Reliance Inc

2720 East 22nd Street
Minneapolis,MN55406 		No PC General support 250,000

Institute for Nonprofit News

8549 Wilshire Boulevard 2294
Beverly Hills,CA90211 		No PC General support 200,000

Institute for Social Policy and Understanding

3200 Greenfield Road Suite 300
Dearborn,MI48120 		No PC General support 130,000

Instituto Lab LLC

221 East Indianola Avenue
Phoenix,AZ85012 		No PC General support 50,000

International Refugee Assistance Project Inc

One Battery Park Plaza 33rd Floor
New York,NY10004 		No PC Program support to create better refugee and asylum processes in the United States 100,000

International Women's Media Foundation

2002 Massachusetts Ave NW Suite 1
Washington,DC20036 		No PC General support 200,000

Internews Network

2000 M Street NW Suite 850
Washington,DC20036 		No PC Program support for Listening Post Collective 200,000

Internews Network

2000 M Street NW Suite 850
Washington,DC20036 		No PC Program support for the Civic Information Opportunities mapping project 200,000

Issue One

1401 K Street NW Suite 350
Washington,DC20005 		No PC Program support for Elections Communications Hub 100,000

Journalism Funding Partners

1731 Howe Avenue 242
Sacramento,CA95825 		No PC Program support for URL Media 220,000

JustFundUs

490 43rd Street Unit 213
Oakland,CA94609 		No PC Program support for Building Power Fund 934,000

Kairos Fellowship Inc

228 Park Avenue South PMB 96841
New York,NY10003 		No PC General support 350,000

Keep Our Republic Charitable Fund

120 Waterfront Street Suite 420
Oxon Hill,MD20745 		No PC General support 150,000

Latino Community Fund Inc

PO Box 3299
Decatur,GA30031 		No PC General support 100,000

Law Forward Inc

222 West Washington Avenue Suite
250
Madison,WI53703 		No PC General support 200,000

Lawyers' Committee for Civil Rights Under Law

1500 K Street NW Suite 900
Washington,DC20005 		No PC General support 600,000

Leadership Conference Education Fund Inc

1620 L Street NW Suite 1100
Washington,DC20036 		No PC General support 175,000

Local Independent Online News Publishers Inc

4023 Kennett Pike Suite 50019
Wilmington,DE19807 		No PC General support 200,000

Make the Road New York

301 Grove Street
Brooklyn,NY11237 		No PC General support 25,000

Marshall-Wythe School of Law Foundation

613 S Henry Street
Williamsburg,VA23185 		No PC Program support for eBenchbook and Alliance of Students at the Polls 150,000

Mi Familia Vota Education Fund

3030 North Central Avenue Suite 900
Phoenix,AZ85012 		No PC Program support for the election administration outreach program 175,000

Military Veterans in Journalism Inc

10824 Margate Road
Silver Spring,MD20901 		No PC Program support for the Information Integrity Program 25,000

Mississippi Center for Justice

210 East Capitol Street Suite 1800
Jackson,MS39201 		No PC General support 250,000

Montclair State University Foundation Inc

1 Normal Avenue
Montclair,NJ07043 		No PC Program support for Center for Cooperative Media 300,000

Morehouse College

830 Westview Drive SW
Atlanta,GA30314 		No PC Program support for Ida B. Wells Society 166,211

Movement Alliance Project

924 Cherry Street 5th floor
Philadelphia,PA19107 		No PC Program support for People's Tech Project 200,000

Multicultural Media & Correspondents Association

1629 K Street NW Suite 300
Washington,DC20006 		No PC General support 360,000

National Black Tech Ecosystem Association

3409 Fairmeade Drive
Nashville,TN37218 		No PC General support 135,000

National Center for Family Philanthropy Inc

1667 K Street NW Suite 350
Washington,DC20006 		No PC Program support for the Learning and Action Cohort 150,000

National Immigration Law Center

3450 Wilshire Boulevard 108-62
Los Angeles,CA90010 		No PC General support 200,000

National Partnership for New Americans

1805 South Ashland Avenue
Chicago,IL60608 		No PC Program support for We Are All America 100,000

National Partnership for New Americans

1805 South Ashland Avenue
Chicago,IL60608 		No PC Program support for the Climate Justice Collaborative 100,000

National Security Archive Fund Inc

2130 H Street NW Suite 701
Washington,DC20052 		No PC General support 100,000

Native American Journalists Association

395 West Lindsey Street
Norman,OK73019 		No PC General support 50,000

NEO Philanthropy Inc

1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for North Carolina Local News Lab Fund 375,000

NEO Philanthropy Inc

1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for BRIDGE Infrastructure Fund 150,000

NEO Philanthropy Inc

1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for State Infrastructure Fund 250,000

NEO Philanthropy Inc

1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for Youth Engagement Fund 150,000

NEO Philanthropy Inc

1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for States at the Core 185,000

NEO Philanthropy Inc

1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for Black Migrant Power Fund 100,000

NEO Philanthropy Inc

1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for Democracy Rising 175,000

NEO Philanthropy Inc

1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for the Rapid Assistance Safety Initiative Fund 100,000

NEO Philanthropy Inc

1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for Democracy 2076 180,000

New America Foundation

740 15th Street NW Suite 900
Washington,DC20005 		No PC Program support for the Political Reform program 75,000

New Jersey Civic Information Consortium

1 Normal Avenue SCM Suite 2109
Montclair,NJ07043 		No SO I General support 100,000

New Mexico Community Foundation

110 North Guadalupe Street Suite 6
Santa Fe,NM87501 		No PC Program support for Generation Justice 100,000

New Venture Fund

1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for Media Democracy Fund's NetGain Partnership 64,000

New Venture Fund

1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for Media Democracy Fund's Disinformation Defense League 25,000

New Venture Fund

1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for Media Democracy Fund's Digital Equity and Opportunity Initiative 175,000

New Venture Fund

1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for Trusted Elections Fund 1,500,000

New Venture Fund

1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for Future Currents 720,000

New Venture Fund

1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for Independent Strategic Research Collaborative Education Fund 200,000

New Venture Fund

1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for Narrative Initiative 100,000

New Venture Fund

1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for The Horizons Project 150,000

New Venture Fund

1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for Local Solutions Support Center 200,000

New World Foundation

627 West End Avenue
New York,NY10024 		No PC Program support for Eclipse Fund 50,000

New York University

25 West 4th Street 4th Floor
New York,NY10012 		No PC Program support for Cybersecurity for Democracy 150,000

New York University

25 West 4th Street 4th Floor
New York,NY10012 		No PC Program support for Center for Critical Race and Digital Studies 200,000

Oficina Legal Del Pueblo Unido Inc

1405 Montopolis Drive
Austin,TX78741 		No PC General support 150,000

Oklahoma Media Center

100 West Main Street
Oklahoma City,OK73102 		No PC General support 50,000

Online News Association

1111 North Capitol Street NE 2nd
Floor
Washington,DC20002 		No PC General support 220,000

Online News Association

1111 North Capitol Street NE 2nd
Floor
Washington,DC20002 		No PC Program support for The Pivot Fund 220,000

OpenSecrets

1100 13th Street NW Suite 800
Washington,DC20005 		No PC General support 125,000

Outlier Media

440 Burroughs Street Suite 365
Detroit,MI48202 		No PC General support 165,000

Partnership for Large Election Jurisdictions Inc

303 East Wacker Drive Suite 2106
Chicago,IL60601 		No PC General support 150,000

Partnership for Public Service Inc

600 14th Street NW Suite 600
Washington,DC20005 		No PC General support 525,000

PEN American Center Inc

588 Broadway Suite 303
New York,NY10012 		No PC Program support for the Digital Safety and Online Abuse Defense Program 200,000

People's Action Institute

1130 North Milwaukee Avenue
Chicago,IL60642 		No PC General support 560,000

People's Action Institute

1130 North Milwaukee Avenue
Chicago,IL60642 		No PC Program support for an Organizing Revival convening 25,000

People's Parity Project

1315 Edmund Avenue West
Saint Paul,MN55104 		No PC General support 150,000

Petty Propolis Inc

2200 Hunt Street Suite 426
Detroit,MI48207 		No PC General support 75,000

Philanthropy for Active Civic Engagement

1717 Rhode Island Avenue NW Suite
700
Washington,DC20036 		No PC Program support for the Democracy Futures Project 50,000

Pillars Fund

200 West Madison Street 3rd Floor
Chicago,IL60606 		No PC General support 200,000

Planetwork NGO Inc

3450 Sacramento Street
San Francisco,CA94118 		No PC Program support for Stop Online Violence Against Women 150,000

Policy Impact

127 University Avenue
Berkeley,CA95816 		No PC Program support for Hearken's Election SOS project 340,000

Political Research Associates

1310 Broadway Ste 201
Somerville,MA02144 		No PC General support 100,000

Portland State University Foundation

PO Box 243
Portland,OR97207 		No PC Program support for the Local Election Officials Survey 175,000

President and Fellows of Harvard College

1033 Massachusetts Avenue Suite 3
Cambridge,MA02138 		No PC Program support for the Practicing Democracy Project 100,000

President and Fellows of Harvard College

1033 Massachusetts Avenue Suite 3
Cambridge,MA02138 		No PC Program support for the Guinier Project 200,000

Press On South Inc

730 Peachtree Street NE Suite 570
Atlanta,GA30308 		No PC General support 100,000

Prism Reports Inc

1423 Broadway Suite 271
Oakland,CA94612 		No PC General support 165,000

ProGeorgia State Table Inc

151 Ellis Street NE
Atlanta,GA30303 		No PC General support 150,000

ProgressNow New Mexico Education Fund

344 4th Street SW
Albuquerque,NM87102 		No PC General support 150,000

Protect Democracy Project

2020 Pennsylvania Avenue NW Suite
163
Washington,DC20006 		No PC General support 300,000

Proteus Fund Inc

303 Wyman Street Suite 300
Waltham,MA02451 		No PC Program support for Rise Together Fund 550,000

Proteus Fund Inc

303 Wyman Street Suite 300
Waltham,MA02451 		No PC Program support for Piper Fund's Right to Protest project 200,000

Public Knowledge

1818 N Street NW Suite 410
Washington,DC20036 		No PC General support 175,000

Public Media Company

3300 Arapahoe Avenue Suite 217
Boulder,CO80303 		No PC General support 50,000

Public Narrative

1245 South Michigan Avenue Suite
121
Chicago,IL60605 		No PC Program support for Chicago Independent Media Alliance 100,000

Public Rights Project

490 43rd Street Unit 115
Oakland,CA94609 		No PC Program support to provide legal support to local elections officals 250,000

Race Forward

PO Box 96353
Washington,DC20090 		No PC Program support for the Institutional and Sectoral Change program 75,000

Refugees International

1800 M Street NW Suite 405N
Washington,DC20036 		No PC Program support for the Refugee Advocacy Lab 150,000

Reporters Committee for Freedom of the Press

1156 15th Street NW Suite 1020
Washington,DC20005 		No PC Program Support for the Local Legal Initiative 150,000

RepresentWomen Inc

8484 Georgia Avenue Suite 240
Silver Spring,MD20910 		No PC General support 100,000

Resolve Philadelphia Inc

699 Ranstead Street Suite 3
Philadelphia,PA19106 		No PC General support 165,000

Right to the City Alliance Inc

388 Atlantic Avenue 3rd Floor
Brooklyn,NY11217 		No PC General support 200,000

Robert C Maynard Institute for Journalism Education

4096 Piedmont Avenue
Oakland,CA94611 		No PC General support 200,000

Rockefeller Family Fund Inc

475 Riverside Drive Suite 900
New York,NY10115 		No PC Program support for the Democracy and Power Innovation Fund 200,000

Rose Community Foundation

600 South Cherry Street 1200
Denver,CO80246 		No PC Program support for Colorado Media Project 250,000

Rural Digital Youth Resiliency Project Inc

364 Patteson Drive Unit 218
Morgantown,WV26505 		No PC General support 400,000

RuralOrganizing-Dot-Org Education Fund

545 East Town Street
Columbus,OH43215 		No PC General support 100,000

Santa Fe Community Foundation

501 Halona Street
Santa Fe,NM87505 		No PC Program support for New Mexico Local News Fund 350,000

Scalawag

PO Box 129
Durham,NC27702 		No PC General support 165,000

Sightline Institute

1402 Third Avenue Suite 500
Seattle,WA98101 		No PC Program support for the Democracy and Elections Program 175,000

Social Impact Fund

750 West 7th Street PO Box 811026
Los Angeles,CA90081 		No PC Program support for Influence Change 100,000

Sojourners

408 C Street NE
Washington,DC20002 		No PC General support 150,000

Solidaire Network Inc

1423 Broadway 314
Oakland,CA94612 		No PC Program support for The Janisha R. Gabriel Movement Protection Fund 100,000

Solutions Project Inc

4096 Piedmont Avenue No 728
Oakland,CA94611 		No PC Program support to advance climate and migrant justice 1,500,000

Southern Coalition for Social Justice

1415 West North Carolina 54 Suite
101
Durham,NC27707 		No PC General support 200,000

State Innovation Exchange

1360 Regent Street PMB 257
Madison,WI53715 		No PC General support 25,000

State Leadership Project

PO Box 223
Raleigh,NC27602 		No PC General support 100,000

State Leadership Project

PO Box 223
Raleigh,NC27602 		No PC Program support to bring new funding to nonpartisan civic engagement 500,000

State Voices

1616 P Street NW Suite 220
Washington,DC20036 		No PC General support 25,000

Sustainable Markets Foundation

40 West 37th Street Suite 1000
New York,NY10018 		No PC Program support for a project researching threats to democracy 100,000

Taproot Earth

PO Box 6270
Slidell,LA70469 		No PC General support 200,000

The Aspen Institute Inc

2300 North Street NW Suite 700
Washington,DC20037 		No PC Program support to examine the impact of AI on democracy 25,000

The Brookings Institution

1775 Massachusetts Avenue NW
Washington,DC20036 		No PC Program support for Lawfare 200,000

The Brookings Institution

1775 Massachusetts Avenue NW
Washington,DC20036 		No PC Program support for convenings examining new ideas for Senate reform 25,000

The Chicago Community Trust

33 South State Street Suite 750
Chicago,IL60603 		No PC Program support for Press Forward Chicago 50,000

The Commonwealth Foundation Inc

1442 A Walnut Street 42
Berkeley,CA94709 		No PC Program support to research the history of community organizing 50,000

The Equity Alliance

PO Box 331821
Nashville,TN37203 		No PC General support 100,000

The Good Nation Foundation Inc

100 Crosby Street Room 301
New York City,NY10012 		No PC Program support for Revolving Door Project 125,000

The Independence Public Media Foundation

1800 JFK Boulevard Suite 300
Philadelphia,PA19103 		No PF Program support for the Internet for All program 100,000

The Miami Foundation Inc

40 NW 3rd Street Suite 305
Miami,FL33128 		No PC Program support for NewsMatch 300,000

The Miami Foundation Inc

40 NW 3rd Street Suite 305
Miami,FL33128 		No PC Program Support for Press Forward 500,000

The Miami Foundation Inc

40 NW 3rd Street Suite 305
Miami,FL33128 		No PC Program support to strengthen newsrooms serving marginalized communities 200,000

The Miami Foundation Inc

40 NW 3rd Street Suite 305
Miami,FL33128 		No PC Program Support for the Legal Clinic Fund 250,000

The National Lesbian and Gay Journalists Association

2120 L Street NW Suite 850
Washington,DC20037 		No PC General support 50,000

The Project on Government Oversight Inc

1100 13th Street NW Suite 800
Washington,DC20005 		No PC General support 750,000

The University of Texas at Austin

1 University Station A1105
Austin,TX78712 		No GOV Program support for Solidarity Journalism Initiative 50,000

ThinkTennessee

414 Union Street Suite 1900
Nashville,TN37203 		No PC General support 10,000

Tides Center

PO Box 889385
Los Angeles,CA90088 		No PC Program support for 22nd Century Initiative 350,000

Translash Media Inc

228 Park Avenue South PMB 43858
New York,NY10003 		No PC General support 150,000

Trustees of Princeton University

701 Carnegie Center Suite 445
Princeton,NJ08540 		No PC Program support to build resources to track and mitigate political violence 100,000

Undivided Inc

7672 Montgomery Road 243
Cincinnati,OH45236 		No PC General support 150,000

Union of Concerned Scientists Inc

2 Brattle Square 6th Floor
Cambridge,MA02138 		No PC Program support for Center for Science and Democracy 200,000

United Nations Foundation Inc

1750 Pennsylvania Avenue NW Suite
300
Washington,DC20006 		No PC Program support for World Benchmarking Alliance's Digital Transformation program 200,000

University of Chicago

5801 South Ellis Avenue
Chicago,IL60637 		No PC Program support for Center for Effective Government's Democracy Reform Primers 100,000

University of Florida Board of Trustees

PO Box 115500
Gainesville,FL32611 		No PC Project support for freedom of information request research 100,000

University of Kentucky Research Foundation

109 Kinkead Hall
Lexington,KY40506 		No SO 1 Program support for the Leadership in Election Administration Project 142,606

University of Maryland

7809 Regents Drive 3112 Lee
Building
College Park,MD20742 		No GOV Program support for the Election Talent Study Group 411,800

Upturn Inc

1763 Columbia Road NW Suite 175 PMB
358680
Washington,DC20009 		No PC General support 200,000

Values United

1250 Connecticut Avenue NW Suite
700
Washington,DC20036 		No PC General support 200,000

Vet Voice Foundation Inc

2201 Wisconsin Avenue NW Suite 320
Washington,DC20007 		No PC General support 125,000

Voter Registration Project

200 Massachusetts Avenue NW 7th
Floor
Washington,DC20001 		No PC General support 473,000

Way to Rise

1825 K Street NW Suite 315
Washington,DC20036 		No PC Program support for Valiente Fund 500,000

Wayne State University

5057 Woodward Avenue 13th Floor
Detroit,MI48202 		No PC Program support for the Levin Center 100,000

We the Veterans Foundation

1520 Belle View Boulevard Unit 5303
Alexandria,VA22307 		No PC General support 175,000

Welcoming America Inc

315 West Ponce de Leon Avenue Suite
900
Decatur,GA30030 		No PC General support 150,000

Western States Center Inc

3519 NE 15th Avenue 117
Portland,OR97212 		No PC General support 200,000

William J Brennan Jr Center for Justice Inc

120 Broadway Suite 1750
New York,NY10271 		No PC Program support for the Emergency Powers Project 175,000

William J Brennan Jr Center for Justice Inc

120 Broadway Suite 1750
New York,NY10271 		No PC Program support to protect democratic institutions and the rule of law 200,000

Wyoming Community Foundation

1472 North 5th Street Suite 201
Laramie,WY82072 		No PC Program support for Wyoming Local News Fund 15,000
Total .................................right arrow 3a 49,167,017
bApproved for future payment

Association of the Bar of the City of New York Fund Inc dba The Vance Cent
42 West 44th Street
New York,NY10036 		No PC Program support for Lawyers for Reporters 50,000

Bend the Arc A Jewish Partnership for Justice
330 Seventh Avenue 19th Floor
New York,NY10001 		No PC Program support for Funders' Collaborative for Youth Organizing 200,000

Borealis Philanthropy
225 South 6th Street Suite 3900
Minneapolis,MN55402 		No PC Program support for the Racial Equity in Journalism Fund Fellows 150,000

Children's Defense Fund
840 First Street NE Suite 300
Washington,DC20002 		No PC General support 200,000

City Bureau NFP
3619 South State Street Suite 400
Chicago,IL60609 		No PC Program support for News Futures 150,000

Code for Science and Society Inc
3439 SE Hawthorne Boulevard 247
Portland,OR97214 		No PC Program support for Center on Race and Digital Justice 200,000

Craig Newmark Graduate School of Journalism CUNY Foundation Inc
219 West 40th Street
New York,NY10018 		No PC Program support for Center for Community Media 500,000

Democracy Forward Foundation
1445 New York Avenue NW 6th Floor
Washington,DC20005 		No PC General support 400,000

FairVote
8484 Georgia Avenue Suite 240
Silver Spring,MD20910 		No PC General support 200,000

Foundation for City College
160 Convent Avenue Room 154
New York,NY10031 		No PC Program support for the Leadership Center for Democracy and Social Justice 100,000

Fractured Atlas
228 Park Avenue South 56651
New York,NY10003 		No PC Program support for Black River Life 50,000

George Washington University
1922 F Street NW 4th Floor
Washington,DC20052 		No PC Program support for the Multiracial Democracy Project 150,000

Georgetown University
3700 O Street NW
Washington,DC20057 		No PC Program support for Institute for Constitutional Advocacy and Protection 400,000

Global Project Against Hate and Extremism Inc
3066 Zelda Road 400
Montgomery,AL36106 		No PC General support 200,000

Hopewell Fund
1828 L Street NW Suite 300D
Washington,DC20036 		No PC Program support for Over Zero 200,000

Institute for Local Self Reliance Inc
2720 East 22nd Street
Minneapolis,MN55406 		No PC General support 200,000

Internews Network
2000 M Street NW Suite 850
Washington,DC20036 		No PC Program support for Listening Post Collective 200,000

Internews Network
2000 M Street NW Suite 850
Washington,DC20036 		No PC Program support for the Civic Information Opportunities mapping project 50,000

Mississippi Center for Justice
210 East Capitol Street Suite 1800
Jackson,MS39201 		No PC General support 200,000

National Immigration Law Center
3450 Wilshire Boulevard 108-62
Los Angeles,CA90010 		No PC General support 400,000

NEO Philanthropy Inc
1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for Black Migrant Power Fund 200,000

NEO Philanthropy Inc
1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for Democracy Rising 175,000

NEO Philanthropy Inc
1001 Avenue of the Americas 12th
Floor
New York,NY10018 		No PC Program support for Democracy 2076 100,000

New Venture Fund
1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for The Horizons Project 300,000

New Venture Fund
1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for Future Currents 500,000

New Venture Fund
1828 L Street NW Suite 300A
Washington,DC20036 		No PC Program support for Local Solutions Support Center 200,000

PEN American Center Inc
588 Broadway Suite 303
New York,NY10012 		No PC Program support for the Digital Safety and Online Abuse Defense Program 200,000

Political Research Associates
1310 Broadway Ste 201
Somerville,MA02144 		No PC General support 150,000

President and Fellows of Harvard College
1033 Massachusetts Avenue Suite 3
Cambridge,MA02138 		No PC Program support for the Guinier Project 200,000

Press On South Inc
730 Peachtree Street NE Suite 570
Atlanta,GA30308 		No PC General support 200,000

Protect Democracy Project
2020 Pennsylvania Avenue NW Suite
163
Washington,DC20006 		No PC General support 700,000

Race Forward
PO Box 96353
Washington,DC20090 		No PC Program support for the Institutional and Sectoral Change program 75,000

Refugees International
1800 M Street NW Suite 405N
Washington,DC20036 		No PC Program support for the Refugee Advocacy Lab 150,000

Reporters Committee for Freedom of the Press
1156 15th Street NW Suite 1020
Washington,DC20005 		No PC Program Support for the Local Legal Initiative 150,000

Rural Digital Youth Resiliency Project Inc
364 Patteson Drive Unit 218
Morgantown,WV26505 		No PC General support 200,000

Southern Coalition for Social Justice
1415 West North Carolina 54 Suite
101
Durham,NC27707 		No PC General support 200,000

The Aspen Institute Inc
2300 North Street NW Suite 700
Washington,DC20037 		No PC Program support to examine the impact of AI on democracy 25,000

The Commonwealth Foundation Inc
1442 A Walnut Street 42
Berkeley,CA94709 		No PC Program support to research the history of community organizing 25,000

The Miami Foundation Inc
40 NW 3rd Street Suite 305
Miami,FL33128 		No PC Program Support for the Legal Clinic Fund 150,000

The Miami Foundation Inc
40 NW 3rd Street Suite 305
Miami,FL33128 		No PC Program support for NewsMatch 200,000

The Project on Government Oversight Inc
1100 13th Street NW Suite 800
Washington,DC20005 		No PC General support 1,200,000

The University of Texas at Austin
1 University Station A1105
Austin,TX78712 		No GOV Program support for Solidarity Journalism Initiative 50,000

Tides Center
PO Box 889385
Los Angeles,CA90088 		No PC Program support for 22nd Century Initiative 500,000

Trustees of Princeton University
701 Carnegie Center Suite 445
Princeton,NJ08540 		No PC Program support to build resources to track and mitigate political violence 100,000

Undivided Inc
7672 Montgomery Road 243
Cincinnati,OH45236 		No PC General support 150,000

Union of Concerned Scientists Inc
2 Brattle Square 6th Floor
Cambridge,MA02138 		No PC Program support for Center for Science and Democracy 200,000

University of Florida Board of Trustees
PO Box 115500
Gainesville,FL32611 		No PC Project support for freedom of information request research 125,000

University of Kentucky Research Foundation
109 Kinkead Hall
Lexington,KY40506 		No SO 1 Program support for the Leadership in Election Administration Project 87,914

We the Veterans Foundation
1520 Belle View Boulevard Unit 5303
Alexandria,VA22307 		No PC General support 175,000

Welcoming America Inc
315 West Ponce de Leon Avenue Suite
900
Decatur,GA30030 		No PC General support 300,000

Western States Center Inc
3519 NE 15th Avenue 117
Portland,OR97212 		No PC General support 400,000
Total ................................. right arrow 3b 11,587,914
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 78,775  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 518,380  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 597,155 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
597,155
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
Yes
 
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
Yes
 
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
1b(4) 440,207 Democracy Fund Voice Inc Reimbursement of shared expenses
1c 1,966,703 Democracy Fund Voice Inc Shared paid employees
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Democracy Fund Voice Inc 501 (c) (4) Common Director - Patricia Christen
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
Democracy Fund Inc
 
Employer identification number

38-3926408
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
Democracy Fund Inc
  		Employer identification number
38-3926408
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
Pierre M Omidyar Trust
720 University Avenue Ste 110
 
Los Gatos, CA950323014

$ 35,732,200


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
Democracy Fund Inc
  		Employer identification number

38-3926408
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 420,000 shares of Paypal Stock $ 25,344,200 2024-03-11
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 800,000 shares of NU Holdings Stock $ 10,388,000 2024-07-09
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
Democracy Fund Inc
  		Employer identification number

38-3926408
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
Democracy Fund Inc
EIN:
38-3926408
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Payroll administration 91,406 0 0 91,406
Accounting and auditing 75,000 0 0 75,000

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TY 2024 ExpenditureResponsibilityStmt
Name:
Democracy Fund Inc
EIN:
38-3926408
Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
Independence Public Media of Philadelphia
  		1800 JFK Boulevard Suite 300
Philadelphia,PA19103 		2023-12-01 247,000 Program support for the Internet for All program 247,000 No Jan 2024, Jan 2025, Jan 2026   N/A

TY 2024 GeneralExplanationAttachment
Name:
Democracy Fund Inc
EIN:
38-3926408
Identifier Return Reference Explanation
In-Kind Services Form 990-PF, PART VI-B, LINE 1a(3) During the period ended December 31, 2024, affiliated entities and related parties provided in-kind services of financial manager fees and other financial services of $486,700. These contributed services were valued at $486,700 but were not recorded on Form 990-PF.

TY 2024 LegalFeesSchedule
Name:
Democracy Fund Inc
EIN:
38-3926408
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Legal fees 202,413 0 0 202,413


TY 2024 OtherAssetsSchedule
Name:
Democracy Fund Inc
EIN:
38-3926408
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Deposits 295 295 295
Due from affiliates 249,392 243,387 243,387
Employee advances 1,769 2,135 2,135
Operating lease right-of-use asset 6,259,681 5,236,201 5,236,201


TY 2024 OtherExpensesSchedule
Name:
Democracy Fund Inc
EIN:
38-3926408
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Conference sponsorships 223,000 0 0 223,000
External Events 467,993 0 0 467,993
Hosted events - Internal 196,365 0 0 196,365
Professional development 42,417 0 0 42,417
Software 567,153 0 0 567,153
Accrual to cash adjustment 0 0 0 -214,491
Relationship gifts 27,290 0 0 27,290
Matching gifts 1,209 0 0 1,209
Bank fees 193 193 193 193
Recruitment 109,291 0 0 109,291


TY 2024 OtherIncreasesSchedule
Name:
Democracy Fund Inc
EIN:
38-3926408
Description Amount
Unrealized Gain 147


TY 2024 OtherLiabilitiesSchedule
Name:
Democracy Fund Inc
EIN:
38-3926408
Description Beginning of Year - Book Value End of Year - Book Value
Federal excise tax payable 1,463 9,542
Long-term operating lease liability 5,997,244 4,836,614


TY 2024 OtherProfessionalFeesSchedule
Name:
Democracy Fund Inc
EIN:
38-3926408
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Consultants 3,862,526 0 0 3,862,526
Contracted services 25,862 0 0 25,862


TY 2024 TaxesSchedule
Name:
Democracy Fund Inc
EIN:
38-3926408
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Federal excise tax 512,622 0 0 504,543
Payroll taxes 841,564 0 0 841,564